{"id":1595180,"date":"2022-08-08T17:38:51","date_gmt":"2022-08-08T21:38:51","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1595180"},"modified":"2022-08-08T17:39:02","modified_gmt":"2022-08-08T21:39:02","slug":"novavax-halves-revenue-forecast-on-low-covid-vaccine-demand-shares-plunge","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/novavax-halves-revenue-forecast-on-low-covid-vaccine-demand-shares-plunge\/","title":{"rendered":"Novavax halves revenue forecast on low COVID vaccine demand; shares plunge"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnovavax-halves-revenue-forecast-on-low-covid-vaccine-demand-shares-plunge%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1595180&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>(Reuters) -Novavax Inc on Monday cut its full-year revenue forecast by half, as the vaccine maker battles low demand for its COVID-19 shot, sending its shares down 32% in extended trading.<\/p>\n<p>Novavax said it now expects 2022 total revenue in the range of $2 billion to $2.3 billion, compared with its prior forecast of $4 billion to $5 billion.<\/p>\n<p>The company\u2019s protein-based COVID-19 vaccine received authorization in the United States in July for use among adults.<\/p>\n<p>Health officials hope that the shot\u2019s more traditional technology would convince those skeptical of messenger RNA technology from Pfizer and Moderna to get vaccinated.<\/p>\n<p>However, only 7,381 doses of the vaccine have been administered in the United States so far, according to the latest government data.<\/p>\n<p>The company sold 3 million doses of the vaccine, recording $55 million in sales in the second quarter ended June 30. This compares to $586 million in the first quarter.<\/p>\n<p>Novavax has also faced manufacturing hurdles and regulatory delays, and the vaccine\u2019s uptake in key markets such as Europe has been sluggish.<\/p>\n<p>In May, Novavax had maintained its full-year revenue guidance despite shipping less than a fourth of its total vaccine deliveries targeted for 2022, banking on an increase in sales of the shots to key markets in the coming quarter.<\/p>\n<p>Novavax said it expects to file for authorization of its COVID-19 vaccine tailored to the Omicron variant to U.S. health regulators in the fourth quarter of this year.<\/p>\n<p>Novavax has been developing an Omicron-tailored vaccine to protect against BA.4 and BA.5, the two currently dominant subvariants, and had previously said it expects to provide the shot in the fourth quarter.<\/p>\n<p>Novavax shares were trading at $38.80 in extended trading. The stock has fallen more than 60% so far in the year.<\/p>\n<p> (Reporting by Amruta Khandekar; Editing by Maju Samuel)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2735549\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/tagreuters.com2022binary_LYNXMPEI770RQ-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI770RQ-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) -Novavax Inc on Monday cut its full-year revenue forecast by half, as the vaccine maker battles low demand for its COVID-19 shot, sending its shares down 32% in extended<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1595180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1595180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1595180"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1595180\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1595180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1595180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1595180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}